Regency Centers Corporation’s (NYSE:REG) “Hold” Rating Reiterated at Boenning Scattergood
Boenning Scattergood reaffirmed their hold rating on shares of Regency Centers Corporation (NYSE:REG) in a report published on Monday. Boenning Scattergood also issued estimates for Regency Centers Corporation’s FY2017 earnings at $3.65 EPS, Q2 2018 earnings at $0.92 EPS and FY2018 earnings at $3.81 EPS.
REG has been the topic of a number of other reports. BidaskClub cut shares of Regency Centers Corporation from a sell rating to a strong sell rating in a report on Thursday, June 22nd. TheStreet raised shares of Regency Centers Corporation from a c rating to a b- rating in a report on Thursday, August 3rd. Jefferies Group LLC reissued a hold rating and set a $72.00 target price on shares of Regency Centers Corporation in a report on Monday, April 24th. Citigroup Inc. reissued a neutral rating and set a $67.00 target price (down from $70.00) on shares of Regency Centers Corporation in a report on Monday, July 10th. Finally, Royal Bank Of Canada reissued a buy rating and set a $70.00 target price on shares of Regency Centers Corporation in a report on Monday, June 19th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $74.18.
Shares of Regency Centers Corporation (NYSE:REG) traded down 0.69% during midday trading on Monday, reaching $66.28. 150,694 shares of the company traded hands. The company has a 50 day moving average of $63.19 and a 200 day moving average of $65.32. The firm has a market capitalization of $11.25 billion, a P/E ratio of 114.28 and a beta of 0.56. Regency Centers Corporation has a 12 month low of $58.63 and a 12 month high of $84.21.
Regency Centers Corporation (NYSE:REG) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. The firm had revenue of $240.42 million for the quarter, compared to analysts’ expectations of $248.50 million. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. During the same period in the prior year, the company posted $0.81 earnings per share. On average, equities research analysts predict that Regency Centers Corporation will post $1.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be given a $0.53 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. Regency Centers Corporation’s dividend payout ratio is presently 353.34%.
In related news, Director John C. Schweitzer sold 4,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $61.13, for a total value of $244,520.00. Following the completion of the transaction, the director now owns 46,694 shares in the company, valued at approximately $2,854,404.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider H Craig Ramey sold 1,048 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $62.17, for a total transaction of $65,154.16. Following the completion of the transaction, the insider now owns 15,769 shares of the company’s stock, valued at approximately $980,358.73. The disclosure for this sale can be found here. Corporate insiders own 12.66% of the company’s stock.
A number of institutional investors have recently made changes to their positions in REG. UBS Asset Management Americas Inc. raised its position in shares of Regency Centers Corporation by 29.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 431,038 shares of the real estate investment trust’s stock worth $29,720,000 after buying an additional 97,901 shares in the last quarter. Teachers Advisors LLC raised its position in Regency Centers Corporation by 9.3% in the fourth quarter. Teachers Advisors LLC now owns 341,958 shares of the real estate investment trust’s stock valued at $23,578,000 after buying an additional 29,212 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new position in Regency Centers Corporation during the first quarter valued at $8,398,000. Exxonmobil Investment Management Inc. TX acquired a new position in Regency Centers Corporation during the first quarter valued at $2,153,000. Finally, Gulf International Bank UK Ltd raised its position in Regency Centers Corporation by 47.8% in the first quarter. Gulf International Bank UK Ltd now owns 46,922 shares of the real estate investment trust’s stock valued at $3,115,000 after buying an additional 15,174 shares during the period. Hedge funds and other institutional investors own 89.37% of the company’s stock.
About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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